Scheidelman v. Commissioner of Internal Revenue (Petitioner-
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Brief filed in the 2nd Circuit for Petitioner Scheidelman. The Tax Court held that the appraisal was not a 'qualified appraisal,' there was no reasonable cause exception, no substantial compliance, the endowment is not a deductible gift and no penalties due to reasonable reliance.
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Scheidelman v. Commissioner of Internal Revenue (Tax Court
The Tax Court held that the appraisal was not a 'qualified appraisal,' there was no reasonable cause exception, no substantial compliance, the endowment is not a deductible gift and no penalties due to reasonable reliance.
Scheidelman v. Commissioner of Internal Revenue (Respondent-
Brief filed by IRS. The Tax Court held that the appraisal was not a 'qualified appraisal,' there was no reasonable cause exception, no substantial compliance, the endowment is not a deductible gift and no penalties due to reasonable reliance.
Scheidelman v. Commissioner of Internal Revenue (Appeals Opinion)
Opinion of the 2nd Circuit, overturning the previous ruling of the Tax Court with respect to Scheidelman v. Commissioner of Internal Revenue
Rothman v. Commissioner of IRS
Tax Court held that the appraisal was not a qualified appraisal because it did not contain a method and specific basis for valuation, essentially following Scheidelman
Lord v. Commissioner
The Tax Court held that the appraisal was not a qualified appraisal due to omission of several dates and FMV. The Court found these omissions significant enough so as to preclude the application of the doctrine of substantial compliance.
Evans v. Commissioner
The taxpayer failed to meet the burden of proof on valuation so the IRS' zero valuation was sustained. The Court declined to assess the accuracy-related penalty, finding that the original appraisal was qualified, that taxpayer had reasonable cause and acted in good faith reliance on the appraiser.
Balsam Mountain Investments, LLC v. Commissioner
Following Belk v. Commissioner, the Tax Court held that the conservation easement did not qualify for a charitable deduction because there was no 'qualified property interest' as required by section 170(h)(2)(C).
Qualified Appraisal Checklist
This factsheet describes the components of and other considerations for a qualified appraisal.
Adirondack Mountain Reserve v. Board of Assessors of the Town
The court found that there is support in the record for the trial court's finding, affirmed by the Appellate Division (99 AD2d 600), that the easement did not diminish the highest and best use of petitioner's retained property so there was no property tax reduction.
Mount v. Commissioner - Memorandum of Law
Was there a bona fide partnership between petitioner and his wife for Federal income tax purposes? The court found that they met requirements laid down in Tower and Lusthaus and that the business association between her and the petitioner fully meets the tests of a valid partnership.